Indiana Claim for Homestead Property Tax Standard / Supplemental Deduction

Claim for Homestead Property Tax Standard / Supplemental Deduction
05473.FH11
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CLAIM FOR HOMESTEAD PROPERTY TAX
STANDARD / SUPPLEMENTAL DEDUCTION

YEAR

FORM
HC10

State Form 5473 (R18 / 1-20)
Prescribed by the Department of Local Government Finance

INSTRUCTIONS: See reverse side for filing instructions.
NOTE: Telephone, Social Security, driver’s license, state identification and federal identification numbers are confidential under IC 6-1.1-12-37.
CERTIFICATION STATEMENT

I (We) _________________________________________________________________certify that I (we) occupied as my (our) principal
place of residence or am (are) buying the following described real property under contract for which a Homestead Property Tax Standard
Deduction is hereby claimed on the date this application is signed, ____________________________ (date of signature). I (We):
Own.
Am (are) buying under recorded contract.
Am (are) entitled to occupy as a tenant-stockholder of a cooperative housing corporation.
Have a beneficial interest in the trust or the right to occupy the property under the terms of a qualified personal residence trust.
Am (are) the shareholder, partner, or member of the entity that owns the property.
CLAIMANT’S INFORMATION
Name of claimant (legal name)

Telephone number of claimant

(
Social Security number of claimant (last five digits)

)

Driver’s license / Identification / Other number of claimant (last five digits)
(Applicable only if applicant does not have a social security number.)

Issuing State

Name of claimant’s spouse (legal name)

Social Security number of claimant’s spouse (last five digits) Driver’s license / Identification / Other number of claimant’s spouse (last five digits)
(Applicable only if applicant’s spouse does not have a social security number.)

Issuing State

CONTRACT RECORDED
If buying on contract, Fee Simple owner's name

Recorder's office where contract is recorded

Record number

Page

PROPERTY DESCRIPTION
County

Township

Parcel number

Legal description

Taxing district (city, town, township)

Is the property in question:
Real property

Annually assessed mobile home (IC 6-1.1-7)

If any portion of the residential structure or the land not exceeding one (1) acre that immediately surrounds that structure is used to produce income, describe the use and portion
of the property utilized to produce income.

PROPERTY OWNED ELSEWHERE BY CLAIMANT
State, County, and Township

Is claimant vacating a homestead?
Yes
No
Signature of claimant

I hereby certify the above statements are true, correct, and complete.
Address of contact (number and street, city, state, and ZIP code)

Address of vacated homestead, if any (number and street, city, state, and ZIP code)

ASSESSOR USE ONLY

ASSESSED VALUE

Land not exceeding one (1) acre immediately
surrounding residential improvements

(1)

Other land

(2)

Total land (line 1 plus line 2)

(3)

Residential improvements or
annually assessed mobile /
manufactured home

Dwelling

(4)

Garage

(5)

Other improvements

(6)

Total improvements (line 4 through line 6)

(7)

Total value (line 3 plus line 7)

(8)

I hereby certify the above is true, correct,
and complete.

Signature of Assessor

HOMESTEAD VALUE

NON-RESIDENTIAL
VALUE

Date signed (month, day, year)
Date signed (month, day, year)

Verifying action - Signature of Auditor

STANDARD DEDUCTION ALLOWANCE
20 ______ pay 20 ______

Lesser of 60% of the assessed value of the homestead or $45,000.

Notwithstanding any other provision, the sum of the deductions provided in IC 6-1.1-12 to a mobile home
that is not assessed as real property or to a manufactured home that is not assessed as real property may
not exceed one-half (1/2) of the assessed value of the mobile home or manufactured home.

$

Date signed (month, day, year)

Signature of Auditor

DISTRIBUTION: Original - County Auditor, File-Stamped Copy - Taxpayer

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NOTICE OF HOMESTEAD STANDARD DEDUCTION

IC 6-1.1-12-37
The homestead standard deduction has been enacted to allow a property tax deduction for each qualified homestead.
Read carefully the qualifying guidelines below:
DEFINITIONS:

“Homestead” means an individual’s principal place of residence:
1. that is located in Indiana;
2. that:
a. the individual owns;
b. the individual is buying under a contract, recorded in the County Recorder’s office, that provides that
the individual is to pay the property taxes on the residence and that obligates the seller to convey title to
the individual upon completion of all of the individual’s contract obligations;
c. the individual is entitled to occupy as a tenant-stockholder (as defined in 26 USC 216) of a cooperative
housing corporation (as defined in 26 USC 216);
d. is a residence described in IC 6-1.1-12-17.9 that is owned by a trust if the individual is an individual
described in IC 6-1.1-12-17.9; or
e. is a residence owned by a corporation, partnership, limited liability company, or other entity and the
requirements of IC 6-1.1-12-37(k) are met; and
3. the principal place of residence consists of a dwelling and the real estate (up to one (1) acre) that
immediately surrounds that dwelling.
“Dwelling” means any of the following:
1. Residential real property improvements that an individual uses as the individual’s residence, including a
house or garage;
2. A mobile home that is not assessed as real property that an individual uses as the individual’s residence; or
3. A manufactured home that is not assessed as real property that an individual uses as the individual’s
residence.

WHO MAY QUALIFY: An individual who: owns a homestead, is buying a homestead under a recorded contract that requires the
individual to pay the property taxes and that obligates the seller to convey title to the individual upon
completion of all of the individual’s contract obligations, or is entitled to occupy the homestead as a
tenant-stockholder of a cooperative housing corporation.
A trust is entitled to the homestead standard deduction for real property owned by the trust and occupied by an
individual if the county auditor determines that the individual:
1. upon verification in the body of the deed or otherwise, has either:
a. A beneficial interest in the trust; or
b. The right to occupy the real property rent free under the terms of a qualified personal residence
trust created by the individual under United States Treasury Regulation 25.2702-5(c)(2);
2. otherwise qualifies for the deduction; and
3. would be considered the owner of the real property under IC 6-1.1-1-9(f) or IC 6-1.1-1-9(g).
No portion of a residential dwelling that is income-producing is eligible for the homestead standard deduction, including, but not limited
to, one-half of a duplex side or rented apartment that is a part of the structure, a beauty shop or crafts shop in one or two rooms of the
structure, a dry cleaners or electronics shop beneath an apartment, or an auto repair shop in the garage.
Property owned by a corporation, partnership, limited liability company, or other entity is not entitled to the homestead standard
deduction unless the requirements of IC 6-1.1-12-37(k) are met.
For assessment dates after 2009, the term “homestead” includes a deck or patio, a gazebo, and certain other residential yard structures
(other than a swimming pool) assessed as real property and attached to the dwelling.
WHEN TO FILE:

This application must be completed and dated in the calendar year for which the applicant desires to obtain the
deduction and filed or postmarked with the county auditor on or before January 5 of the calendar year in which
the property taxes are first due and payable. The application applies for that first year and any succeeding year for
which the deduction is allowed.

HOW TO FILE:

Forms must be filed at the county auditor’s office in the county where the homestead is located. If an individual
mails this form and desires to have a file-stamped copy returned, the individual must provide a self-addressed,
stamped envelope to the county auditor’s office.
Only one individual or married couple may receive a homestead deduction for a particular homestead in a particular
year. The portion above the “Signature of claimant” must be completed in full before the deduction will be considered.

For additional filing information, please see IC 6-1.1-12-37.
DISALLOWANCE OF MULTIPLE CLAIMS: The county auditor may not grant an individual or married couple a homestead deduction if:
1. for the same year, the individual or married couple claims the homestead deduction on
two (2) or more different deduction applications; and
2. the applications claim the homestead deduction for different property.
If a person moves from his Indiana principal place of residence (for which he is receiving a homestead deduction) after the assessment
date to a new principal place of residence later that year, the homestead deduction on the first property will stay in place for that tax cycle
and the person can apply for and potentially receive a homestead deduction on the new property for that same tax cycle. For the next
assessment date, the homestead deduction would be removed from the first property. See IC 6-1.1-12-37(h).
A person must actually be eligible for the deduction at the time the application is signed, meaning the property is being used as his or her
principal place of residence at the time of signing.
NOTICE OF SUPPLEMENTAL DEDUCTION

IC 6-1.1-12-37.5
A person who is entitled to a homestead standard deduction is also entitled to receive a supplemental deduction from the assessed
value of the homestead to which the standard deduction applies after the application of the standard deduction, but before the application
of any other deduction, exemption, or credit for which the person is eligible.
The amount of the supplemental deduction is equal to the sum of the following:
1. Thirty-five percent (35%) of the assessed value that is not more than six hundred thousand dollars ($600,000).
2. Twenty-five percent (25%) of the assessed value that is more than six hundred thousand dollars ($600,000)
The county auditor is required to record and make the deduction for the person qualifying for the supplemental deduction.
The statutory limit of one-half (1/2) of the assessed value that applies to the sum of the deductions provided under IC 6-1.1-12 to a
mobile home that is not assessed as real property or to a manufactured home that is not assessed as real property does not apply to
the supplemental deduction.
INELIGIBILITY PENALTY:

If an individual whose property becomes ineligible for the homestead deduction fails to file a certified
statement with the county auditor notifying the auditor of the ineligibility within sixty (60) days after the
date of the change, the individual is liable for the amount of the deduction allowed for that real property,
plus a civil penalty equal to ten percent (10%) of the additional taxes due.

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